Does Accenture plc (ACN) Have More Gas After Touching All Time High?

December 12, 2017 - By Darrin Black

Investors sentiment increased to 1.05 in Q2 2017. Its up 0.12, from 0.93 in 2017Q1. It improved, as 49 investors sold Accenture plc shares while 348 reduced holdings. 82 funds opened positions while 334 raised stakes. 466.45 million shares or 0.50% more from 464.13 million shares in 2017Q1 were reported.
Trust Of Toledo Na Oh has invested 0.1% in Accenture plc (NYSE:ACN). Whittier Tru holds 0.1% or 21,879 shares. Perkins Coie Tru invested 0.91% of its portfolio in Accenture plc (NYSE:ACN). 299 are owned by Winfield Associates. Bkd Wealth Advsrs Ltd holds 0.34% or 24,107 shares. Trillium Asset Mngmt Ltd owns 0.21% invested in Accenture plc (NYSE:ACN) for 28,300 shares. Cincinnati Ins Co has 2.59% invested in Accenture plc (NYSE:ACN) for 674,165 shares. Bragg Inc owns 0.16% invested in Accenture plc (NYSE:ACN) for 7,970 shares. 2,600 were reported by Hgk Asset Mngmt. 12 were reported by Lenox Wealth. 28,232 are owned by Segment Wealth Mngmt Ltd Liability. Sumitomo Mitsui Asset Mngmt reported 0.1% of its portfolio in Accenture plc (NYSE:ACN). Dearborn Ptnrs Ltd Co holds 1.17% of its portfolio in Accenture plc (NYSE:ACN) for 128,028 shares. Clinton Grp holds 0.07% or 5,337 shares. Moreover, Fjarde Ap has 0.37% invested in Accenture plc (NYSE:ACN) for 146,476 shares.

The stock of Accenture plc (NYSE:ACN) reached all time high today, Dec, 12 and still has $163.72 target or 8.00 % above today’s $151.59 share price. This indicates more upside for the $93.19 billion company. This technical setup was reported by Barchart.com. If the $163.72 PT is reached, the company will be worth $7.45B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 0.60% or $0.9 during the last trading session, reaching $151.59. About 532,589 shares traded. Accenture plc (NYSE:ACN) has risen 4.27% since December 12, 2016 and is uptrending. It has underperformed by 12.43% the S&P500.

Analysts await Accenture plc (NYSE:ACN) to report earnings on December, 20. They expect $1.66 earnings per share, up 5.06 % or $0.08 from last year’s $1.58 per share. ACN’s profit will be $1.02B for 22.83 P/E if the $1.66 EPS becomes a reality. After $1.48 actual earnings per share reported by Accenture plc for the previous quarter, Wall Street now forecasts 12.16 % EPS growth.

Accenture plc (NYSE:ACN) Ratings Coverage

Among 26 analysts covering Accenture Plc (NYSE:ACN), 14 have Buy rating, 1 Sell and 11 Hold. Therefore 54% are positive. Accenture Plc had 72 analyst reports since August 12, 2015 according to SRatingsIntel. The rating was maintained by Stifel Nicolaus with “Buy” on Monday, March 21. The firm has “Hold” rating by Societe Generale given on Thursday, September 28. KeyBanc Capital Markets maintained Accenture plc (NYSE:ACN) rating on Wednesday, September 20. KeyBanc Capital Markets has “Buy” rating and $135.0 target. The firm has “Hold” rating by SunTrust given on Wednesday, May 24. RBC Capital Markets maintained the stock with “Buy” rating in Wednesday, July 12 report. The company was maintained on Wednesday, September 27 by Barclays Capital. The rating was maintained by Cantor Fitzgerald with “Buy” on Thursday, June 15. Wedbush initiated it with “Outperform” rating and $125 target in Friday, September 9 report. The firm has “Buy” rating by Cowen & Co given on Tuesday, September 19. The stock has “Neutral” rating by Citigroup on Monday, March 28.

More news for Accenture plc (NYSE:ACN) were recently published by: Seekingalpha.com, which released: “Accenture Invests In And Partners With Paxata” on November 14, 2017. Seekingalpha.com‘s article titled: “Accenture Could Still Be Undervalued, But Execution Risk Is High” and published on November 30, 2017 is yet another important article.

Accenture plc provides consulting, technology, and outsourcing services worldwide. The company has market cap of $93.19 billion. The Company’s Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, and enhance business results through industry-specific solutions; and serves clients in communications, electronics, high technology, media, and entertainment industries. It has a 27.86 P/E ratio. The companyÂ’s Financial Services segment offers services that help clients enhance cost efficiency, grow their customer base, manage risk, and transform their operations; and serves clients in banking, capital markets, and insurance industries.

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